Approximately 230 patients were enrolled to this study, randomized into three groups treated with 0.1mg and 4mg of CF101, and placebo. Patients are taking the drug for 12 weeks plus two weeks of follow-up. The trial is being conducted in 30 sites in Europe and Israel. The company estimates to release study data in the first half of 2009.
In addition, the company recently announced that it has signed an out-licensing agreement with Kwang Dong Pharmaceutical, a Korean company, granting Kwang Dong exclusive rights to develop and commercialize the drug CF101 for rheumatoid arthritis, in Korea.
CF101, Can-Fite’s lead drug, is currently being tested in a multi-national Phase IIb study for its therapeutic activity in the treatment of rheumatoid arthritis and in two Phase IIa studies: one for the treatment of psoriasis and the other for dry eye syndrome.
The terms of the license include an upfront payment as well as milestone payments to Can-Fite in an aggregate amount of $1.5 million and certain royalties on sales. Additionally, Kwang Dong will purchase equity in Can-Fite in an amount representing 1% of Can-Fite’s outstanding share capital at a premium of 50% above market price.